Just as Oz himself proves more charlatan than sorcerer, however, some question the reality of Disney's apparent magic.
The film has been panned by many critics. Some have accused Franco of a wooden performance, others have accused Raimi of producing a stilted story. Raimi had approached Robert Downey Jr and Johnny Depp for the title role before turning to Franco.
Before its release there were reports of studio-mandated reshoots to make Franco's character more sympathetic and to expand the dialogue of a talking monkey.
Audiences have been kinder than critics, giving the film a B+ CinemaScore, but Galloway said box office returns so far were not enough given the film's epic price tag.
"They haven't quite got away with it financially. This has not been a gigantic hit in relation to its cost." Foreign takings usually needed to outperform US box office for this type of blockbuster's profitability but so far Europeans and Asians had proved less keen than Americans, possibly because it was such an American story, said Galloway.
He suggested that talk of a sequel and theme park ride could be bluster. "Don't be taken in by the spin."